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Workplace Trends: Gas Prices Rise, Productivity Falls

With summer approaching and gas prices poised to again reach record highs, the extra strain financially takes a toll on many employees.  Researchers at Florida State University released findings on a study conducted this spring about the effects that rising gas prices have on workplace productivity.  The study included 800 full-time employees who drove personal cars to work an average of 15 miles each way.  At the time of the study gas prices were at $3.50.  The majority of those surveyed said that gas prices were the biggest thing on their mind.  ”Several employees said they simply could not escape the media onslaught of bad news regarding the future of gas prices, and many reported their financial futures were looking bleaker and bleaker,” says head researcher and Professor Hochwarter.  He went on to say that ”People concerned with the effects of gas prices were significantly less attentive on the job, less excited about going to work, less passionate and conscientious, and more tense…these people also reported more ‘blues’ on the job. Employees were simply unable to detach themselves from the stress caused by escalating gas prices as they walked through the doors at work.”  Professor Hochwarter’s study will be released later this summer.  For more information on this research visit EurekAlert or Florida State University News.   

While there is nothing new about employees bringing financial stress into work with them the consistent toll this is taking across the nation(and internationally) is alarming.  Some employers have seen this as an opportunity to set themselves apart and use the hike in gas prices to encourage employee carpooling and other cost saving programs.  The University of California has put in place such a carpool program that they have opened to all employees, students, and graduate students.  This program gives individuals the opportunity to park for free, have expanded parking, and receive complimentary gas cards upon registering.  Programs such as these are helping to both reduce the amount of money people have to spend at the pump, as well as reduce the carbon footprint.  

Some additional findings from the research include:

• 52 percent have reconsidered taking vacations or other recreational activities; 
• 45 percent have had to cut back on debt-reduction payments, such as credit card payments; 
• Nearly 30 percent considered the consequences of going without basics including food, clothing and medicine; 
• 45 percent report that the escalating gas prices have “caused them to fall behind financially”; 
• 39 percent agreed with the statement “Gas prices have decreased my standard of living”; and 
• About 33 percent — or one in three — said they would quit their job for a comparable one nearer to home.

Free Webinar: Workers Compensation, Americans with Disabilities Act, and the Family Medical Leave Act

On May 20th at 2p.m. HRSentry will be hosting a FREE webinar discussing three critical topics in the human resource industry, Workers Compensation, Americans with Disabilities Act, and the Family Medical Leave Act. These complex laws are responsible for a significant number of lawsuits and fines every year because employers do not know what is required. Protect yourself by going to the HRSentry Homepage and clicking the link “Register Now” tab on the right side of the page.  The webinar will be presented by Brenda Sabin, it will cover the specifics of each law, compare the regulations for each, and review how they interact.  In addition to the webinar, upon signing up you automatically receive a 30-day trial of the HR Made Simple Kit.